Ownership Breakdown

Pampa Energía‘s issued stock capital consists of 1,899,870,264 common shares of one peso of nominal value and one vote per share (1 ADR equivalent to 25 ordinary shares). The ownership of Pampa‘s shares is the following:

Holder

Number of Shares,
in Million

Number of ADRs,
in Million

Share of Issued Capital,
in %

Management1

368.3

14.7

19.4%

Free Float2

1,506.2

60.2

79.3%

Share buyback program

20.1

0.8

1.1%

Employee stock-based compensation plan

5.3

0.2

0.3%

Total Issued Capital

1,899.9

76.0

100.0%

Total Outstanding Capital3

1,879.8

75.2

98.9%

Note: All figures have been subject to rounding, so figures shown as totals may not sum. 1 The management holdings as of September 2018, includes direct and indirect stakes of Messrs. Marcos Marcelo Mindlin, Damián Miguel Mindlin, Gustavo Mariani and Ricardo Alejandro Torres. 2 Listed in NYSE and BYMA. 3 Net of shares buyback programs announced on April 27 and June 22, 2018.